You are participating in a social warranty policy where participants pool funds to hedge against extended risks relating to phones. Chendol acts as an administrator to the pool. Chendol Tech Pte Ltd is not an insurance company and is not regulated as an insurer.
You are not protected under the Deposit Insurance and Policy Owners’ Protection Schemes act (Cap. 77B) and do not have access to the Dispute Resolution Scheme under the Financial Industry Disputes Resolution Centre.
Your contracting party is Chendol Tech Pte Ltd, incorporated in Singapore.
You have to be at least 18 years old.
You must either be a user of rePhone or register an account with us, authenticate your device (“Phonetentication”), and make full payment for the selected plan before the social insurance policy can be in effect.
Your premium is payable upfront and is inclusive of a 20% admin fee and any corresponding third-party transaction cost.
All payments will be re-directed to a third-party payment processing gateway. To avoid doubt, Chendol will never store your payment details.
Chendol reserves the right to establish, remove and/or revise charges for any aspect of services at any time at Chendol’s discretion. Without affecting the consistency of pool contribution from participants, Chendol may, from time to time, provide certain users with promotional offers and discounts that may result in different charges. You agree that such promotional offers and discounts have no bearing on your use of service or charges applied to you.
To maintain equitable contribution to the pool of fellow participants, payments made are non-refundable.
The excess fee is calculated based on the initial Manufacturer Recommended Selling Price (“MRSP”) of an insured device.
|Excess Fee||15% of MRSP||40% of MRSP||1% ofMRSP|
The maximum liability shall be the initial Manufacturer Recommended Selling Price (“MRSP”) of the insured device.
The premium net of all fees and charges will become contribution to the pool.
Contribution is allocated to the pool on the last day of each month. Contributions received during the month will be allocated for the month.
The mandate of the pool is to pay out claims. Claims paid out during the month is deemed as a claim for the month. Each month, contributions will be deducted from claims, and the balance will be apportioned as reward credits to pool participants who did not make a claim during the month. In the unlikely event that the pool balance becomes negative for the month, prospective pool balances would be first used to offset current claims, followed by retrospective pool balances.
Monthly rewards credit will be accrued and is reflected by the first week of the following month. Credits are available for voucher or cash withdrawal upon maturity of the policy. Withdrawal requests are processed within 24 hours. The mode of withdrawal is via PayNow or GrabPay only. Credits transfer is subject to any corresponding third-party transaction cost.
In the event that a claim was made, prior credits accrued would be forfeited and be considered as contribution for the current month.
During the policy period, transfer of device ownership can be only be made with a valid email address. The new owner of the device must register an account with Chendol to enjoy continued protection of the device.
Excess fee must be paid before claim can be processed. During the claim process, Chendol may request for additional information and documents for verification. Your failure to provide additional information and documents may result in the claim being rejected.
Claim options are subject to market resource availability. Only 1 Redeem claim can be made every 12 months rolling. There is no limit to the number of claims for Replace and Rental option.
To further safeguard against moral hazard and adverse selection, new participants of the pool will be subject to a 7 day probation. Claims arising during this period may, at the discretion of Chendol, incur to additional excess fees or become rejected.
Whilst every effort are made to ensure there is sufficient balance in the pool to meet claims, there exist a small risk that your claim may fail due to insufficient balance in the pool contribution.
The option to rent is subject to rephones availability and is limited to a maximum of 30 days.
The option to replace returns a 1-to-1 exchange for a like-for-like device, being similar in kind, quality and functionality, is new or refurbished, will have the same or greater memory, may be a different brand or model or colour, is delivered in plain packaging, and does not include device accessories.
Replaced phones come with a 1 month warranty on parts malfunctions. All replace warranty claims will be handled the same way as a replace service request except that no fee will be imposed.
The option to redeem returns another device, like-for-like device, being similar in kind, quality and functionality, is new or refurbished, will have the same or greater memory, may be a different brand or model or colour, is delivered in plain packaging, and does not include device accessories.
All redeems come with a 1 month warranty on parts malfunctions. All redeem warranty claims will be handled the same way as a redeem service request except that no fee will be imposed.
Your policy may be suspended if you are in arrears of your premium at any point in time. Upon suspension, your obligation to pay for all outstanding premiums remains. Policy resumes when payment is received in full.
Chendol is the administrator of the pool and possess the power to act on behalf of the participants of the pool. To avoid doubt, Chendol is able to enforce all actions that it deems necessary for the proper administration of pool operations envisaged below:
- Accept or reject a prospective application
- Amend policy details or status
- Collections and disbursements of money
- Exercise power to approve or reject a claim
- Determine the cost of a claim
- Decide on the suitability of a vendor in making a claim fulfilment
- Pursing or defending a claim against any stakeholders of the pool
The agreement is governed by, and shall be interpreted and construed in accordance with the Laws of Singapore.